Bloomberg News

Singapore Stocks: CapitaLand, Neptune Orient, Tat Hong, Yoma

March 30, 2012

Singapore’s Straits Times Index (FSSTI) added 0.6 percent to 3,010.46 at the close, extending its gain for the quarter to 14 percent. Three shares rose for each that fell in the 30-member gauge.

The following were among the most active shares in the market. Stock symbols are in parentheses after company names.

Developers: Private homebuilders sold 5,200 residential units in the first three months of the year, the most since the third quarter of 2009, amid low interest rates, according to real estate broker CB Richard Ellis.

CapitaLand Ltd. (CAPL) , Southeast Asia’s biggest developer, rose 1.6 percent to S$3.12. City Developments Ltd. (CIT) , the second-largest homebuilder in the city, climbed 1.3 percent to S$11.35. Keppel Land Ltd. (KPLD) , the real estate unit of Keppel Corp., increased 1.5 percent to S$3.47.

Neptune Orient Lines Ltd. (NOL) (NOL SP), Singapore’s biggest No. 1 shipping line, rose 1.1 percent to S$1.415. China Cosco Holdings Co., Asia’s largest container carrier, said rates have improved this year and may “recover to normal levels.”

Tat Hong Holdings Ltd. (TAT) added 1.1 percent to 93 Singapore cents after the supplier of cranes bought an additional 50 percent stake in PT Worldwide Equipment South East Asia for $6.5 million, making the provider of lifting equipment to the offshore oil and gas industry a wholly-owned subsidiary.

Yoma Strategic Holdings Ltd. (YOMA) , a developer of properties in Myanmar, jumped 11 percent to 51 Singapore cents on speculation next week’s polls will boost the Southeast Asian nation’s appeal to investors. Myanmar will hold its most inclusive elections since the military rejected an opposition victory in 1990.

To contact the reporter on this story: Jonathan Burgos in Singapore at jburgos4@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net


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